19/10/2017 10:22 AST

The world’s biggest sovereign wealth fund has warned Britain against watering down its listing rules to accommodate Saudi Aramco, describing such proposals as “a step back in terms of investor protection”.

In a letter to the Financial Conduct Authority, Norges Bank Investment Management, of Norway, threw its weight behind the growing investor revolt against proposals to create a new category of premium listing.

The category would be designed for companies controlled by sovereign nations and would dilute rules to protect minority shareholders. It is widely seen as a measure to enable the initial public offering of Saudi Aramco, the state-owned oil giant, which is seeking to list 5 per cent of its shares in an attempt to raise $100 billion.

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The Times

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Arab News

Halliburton wins Aramco’s unconventional gas contract

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QNBK 152.00 524,644
SABIC 127.00 341,265
WALAA 28.20 66,290
PETRORABIGH 28.30 239,237
ALINMA 21.66 1,318,205
SAICO 15.10 72,566
TAWUNIYA 71.40 15,010
Ticker Price Change
FOOD 0.00 0.00 (0.00%)
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Gulf Times

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SABIC takes part in IFA Conference in Berlin

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Saudi Gazette